Combined field studies, optical and scanning electron microscopy, and electron microprobe studies of impactites from the Ries impact structure, Germany, have allowed a clearer picture of the hydrothermal system associated with the Ries impact event to be made. Hydrothermal alteration is concentrated within impact-generated suevites in the interior of the crater (crater suevites) and around the periphery (surficial suevites), with minor alteration in the overlying sedimentary crater-fill deposits. The major heat source for the Ries hydrothermal system was the suevite units themselves. Hydrothermal alteration of crater-fill suevites is pervasive in nature and comprises several distinct alteration phases that vary with depth. An early phase of K-metasomatism accompanied by minor albitization of crystalline basement clasts and minor chloritization, was followed by pervasive intermediate argillic alteration (predominantly montmorillonite, saponite, and illite) and zeolitization (predominantly analcite, erionite, and clinoptilolite). Hydrothermal fluids were typically weakly alkaline during the main stage of alteration. In contrast to the crater-fill suevites, alteration within surficial suevites was typically restricted to montmorillonite and phillipsite deposition within cavities and fractures. The pervasive nature of the alteration within the crater-fill suevites was likely due to the presence of an overlying crater lake; whereas alteration within surficial suevites typically occurred under undersaturated conditions with the main source of water being from precipitation. There are exceptional outcrops of more pervasively altered surficial suevites, which can be explained as locations where water pooled for longer periods of time. Hydrothermal fluids were likely a combination of meteoric waters that percolated down from the overlying crater lake and groundwaters that flowed in from the surrounding country rocks.